The IRS released a new Form W-4 for 2020, also known as the “Employee’s Withholding Certificate.”
Employers use IRS Form W-4 to determine each employee’s federal tax withholdings. The new form is intended to harmonize tax withholding declarations with the Tax Cuts and Jobs Act, which affected individuals for the first time during the last tax filing season.
The federal spending bill signed into law at the end of 2019 repealed three taxes and fees under the Affordable Care Act (ACA):
- The Cadillac tax
- The medical devices excise tax
- The health insurance providers fee
The U.S. Department of Labor (DOL), announced new final rules that clarifies how to calculate an employee’s regular wage rate under the Fair Labor Standards Act (FLSA). The final rule became effective on Jan. 15, 2020.
Calculating the regular rate is an essential first step when determining an employee’s overtime compensation.
With a new year upon us, your attention is likely focused on setting financial and productivity goals for your business. As you plan, make sure to look at one area you may have overlooked: employee retention. Employee retention has a huge impact on your bottom line, and now is a great time to make some employee retention resolutions that will pay off all year long. Watch the video below to learn 10 key employee retention resolutions for 2020.
Recently, the Departments of Labor (DOL) and Health and Human Services (HHS) issued an updated template and related materials for the summary of benefits and coverage (SBC). These materials are required to be used for plan years beginning on or after Jan. 1, 2021. This means that the updated template must be used for the 2021 plan year’s open enrollment period.
Performance reviews are an annual ritual for many employers, but their usefulness has been debated for years.
To make sure you—and your employees—get the most out of performance reviews, follow these five tips.
Employers must comply with numerous reporting and disclosure requirements throughout the year in connection with their group health plans.
Listed below are upcoming group health plan compliance dates for employer-sponsored group health plans, organized chronologically. For these requirements, the information provided herein shows the deadlines that apply to calendar year plans. For non-calendar year plans, these deadlines will need to be adjusted to reflect each plan’s specific plan year.
We are providing the helpful guide for the 2020 Employee Benefits Annual Limits. The guide contains:
- IRS Limits on Health Savings Accounts (HSAs)
- Non-HDHP Out-of-Pocket Limits
- IRS Limits on Health Flexible Spending Accounts (Health FSAs)
- Qualified Small Employer Health Reimbursement Arrangements
- IRS Limits on Retirement Benefits and Compensation
- And much more
Employee benefits programs are a big part of attracting and retaining top talent. You’ve likely worked hard to develop a competitive benefits package, but you may be undermining your hard work by not communicating effectively. Learn some tips how to conduct 1-on-1 benefits meetings in the video below.